Ray Johnson EsqAICP , Mar 26, 2009, 4:15PM EDT

Increasingly I am becoming concerned about the ability to maintain economic and political stability. The gap between the "elite" and average Americans is growing, not shrinking. Increasingly the income gap is growing at an alarming and unsustainable rate.

Much of the uproar over the AIG bonuses was not solely because of the taxpayer bailout but the realization of the size of the income gap and the number of those receiving mega payments.

I am a small business owner, attorney, planner and former economist. I understand the free enterprise system and the need for incentives. But at some point, one must ask: "How much is enough?" Does an annual income of $5,000,000 really provide significant worthwhile opportunities compared to $1,000,000?

There has always been a realization that there were rich people out there but as a result of the AIG scandal the scope and magnitude of the inequality has become evident to the average American. The unfortunate result of this is an alienation and hostility on the part of those who will make less in a lifetime than the annual bonuses received by AIG. This realization will hinder the economic recovery and will result in a radicalization of politics within the country that can threaten the fabric of democracy. The average person and certainly the poor will view the economy and the political system as being rigged against them. This will hinder the return of confidence in the system.

In the past, this sense of hopelessness has largely been confined to urban ghettos and barrios with disastrous results. It now threatens to expand beyond traditional areas that can threaten the social fabric.

It is my opinion that it is necessary to implement changes to the tax structure that will help restore a sense of fairness and actual fairness.

I would suggest that the tax structure be revised to provide for greatly increased marginal tax rates for very high annual incomes. I would suggest that tax rates for personal incomes below $1,000,000 retain the Clinton tax structure. For that portion of gross income in excess of one million, there should be increasing marginal rates. For instance for that portion of incomes between one and two million, there should be a marginal tax rate of 60%. For that portion of income between two and three million a marginal tax rate of 70%. For that portion of annual incomes in excess of four million, a marginal tax rate of 80%. I am talking about personal tax rates and it should be made clear that these rates do not apply to gross income of small businesses to minimize Republican distortion.

I understand that the Republicans will scream bloody murder but there is probably little public support for those who's personal incomes exceed one million per year. Let the Republicans rail and explain to the public why they find it necessary to support these incomes.

Such an action will help bring about some sense of equity and should result in downward pressure on outrageous executive compensation. It will help to reduce political and economic instability. It could actually help reduce the income and wealth gap within the country.